Illinois State Approved Sessions

Hosted by ABI's Real Estate CommitteeThe office sector remains one of the most challenged areas of commercial real estate, with fundamentals shifting in ways that continue to test owners, lenders and tenants alike. While prime properties in select markets are benefiting from a clear flight to quality, overall leasing activity is uneven, and vacancy rates remain elevated nationwide. With billions of dollars of office-based loans in distress and higher rates with tighter underwriting colliding with declining property valuations, the office asset class continues to be a real estate sector that restructuring professionals should watch closely.The Real Estate Committee is pleased to provide a deep dive into this market from the perspective of a national bank special assets manager, a CMBS attorney and a transaction professional through a hybrid Zoom webinar and in-person program at the New York City offices of Pillsbury.

This panel will provide a comprehensive overview of recent developments affecting cross-border insolvency practice. The panelists will include updates on third-party releases and the Credito Real appeal by the U.S. Trustee, recent trends in asset-tracing across offshore jurisdictions, and emerging issues in the Caribbean and Canada, including evolving director duties and disqualification regimes.

The U.K. Scheme of Arrangement and other international restructuring tools have attracted global attention for their flexibility and effectiveness. This panel will explore whether the U.S. should adopt a similar framework, and will analyze potential benefits, challenges and implications for debtors and creditors within the existing chapter 11 system.

The intersection between insolvency and arbitration remains one of the most complex and unsettled areas of cross-border dispute resolution. This panel will examine the ongoing debate within UNCITRAL Working Group V on determining which law governs the effect of insolvency proceedings on arbitration agreements and arbitral proceedings, and how different jurisdictions approach this question in practice.

Hosted by the Emerging Industries & Technology and Financial Advisors & Investment Banking Committees. This panel will explore the intricate landscape of recent crypto-related bankruptcies through a multi-faceted lens. The panelists will examine the fast-paced world of on-chain tracing and flow-of-funds analysis, the unique valuation challenges posed by highly volatile digital assets, and the shifting regulatory environment impacting insolvency proceedings. Illustrative case studies from prominent bankruptcies will ground the discussion, offering practical insights into how legal, financial and technical teams are adapting to these emerging challenges.

This session will explore the complex legal doctrines that define the rights and limitations of trustees and debtors in bankruptcy. The panelists will examine when trustees and debtors step into the shoes of the debtor, including how pre-petition rights and defenses impact the estate. The discussion also will analyze the application and limits of the in pari delicto doctrine, along with potential workarounds, and provide a close look at the Barton doctrine — its reach, exceptions, and whether protections continue after case closure. In addition, the panelists will consider the implications of the Fifth Circuit’s recent Highland Capital Management decision, including how gatekeeper provisions may reshape Barton protections for post-confirmation estate representatives.

As financial pressures continue to mount in the health care industry, long-term-care facilities are facing unique operational and legal challenges that can quickly lead to distress or insolvency. This panel will explore the complexities of health care bankruptcies, including regulatory hurdles, patient care obligations, and strategies for restructuring or conducting orderly wind-downs. The panelists will discuss key considerations for debtors, creditors and trustees — such as Medicare and Medicaid reimbursement issues, facility licensing and resident transition plans — while offering practical insights on navigating these sensitive cases with both compliance and compassion in mind.

This panel will navigate the evolving landscape of subchapter V bankruptcy with expert insights into strategies that protect your clients’ interests. The panelists will examine critical eligibility requirements — including debt caps, the “engaged in commercial or business activities” standard, and strategic timing considerations — while exploring the unique role of the subchapter V trustee in facilitating reorganization. Discover how recent circuit court splits on corporate discharge exceptions and projected disposable income requirements are reshaping case outcomes. Whether you are new to subchapter V or seeking innovative approaches to common challenges, you’ll gain practical strategies for both debtors and creditors, from pre-filing planning and eligibility pivots to confirmation tactics and § 523 litigation. Learn how to leverage — or defend against — the streamlined procedures that make subchapter V an increasingly attractive option for small business restructurings.

Agricultural businesses face unique challenges in today’s evolving economic and legal landscape. This panel will explore the key issues shaping agricultural bankruptcies, including the root causes of financial distress for farmers and agricultural enterprises, the role of chapter 12 as a vital restructuring tool, and the range of out-of-court alternatives available to distressed debtors. The panelists also will discuss emerging case law, legislative developments and practical strategies that influence the outcomes of agricultural bankruptcy proceedings, and will provide a comparative analysis of chapter 12, chapter 11 and subchapter V by examining their respective benefits, limitations and procedural considerations for agricultural cases.